Federal stress test caused up to $15M drop in new mortgages: economist

By Joannah Connolly / Glacier Media Real Estate
Time to rethink the too-strict stress test, urges CIBC’s chief economist

The federal government’s mortgage stress test has done its job and it’s now time to rethink the rules, according to a leading economist. Benjamin Tal, chief economist at CIBC, published a report this week citing CIBC research findings that the B-20 stress test has been responsible for a $13-15 million decline in new mortgage loan values since its January 2018 introduction.…

Source:: Federal stress test caused up to $15M drop in new mortgages: economist

April 20, 2019

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